Q4 FYE2025 Consolidated Financial Results
Earnings Announcement
( Fiscal year ended March, 2025 )
May 12, 2025
Tokyo, Japan
Notes
Analysis of Operating Results (Reasons for change in Revenue and Segment Operating Income)
In the supplementary materials to the financial statements of NSHD, starting from the fiscal year ending March 31, 2022, NSHD will describe the status of the business results of NSHD group on a quarterly consolidated accounting period basis, as well as its recognition and analysis of the status of the business results of NSHD group from management's perspective. Please note that Segment Operating Income is based on Core Operating Income.
The following table shows Revenue, Operating income, and the effect of Forex rate changes on Revenue and Operating Income.
The impact of Forex rate fluctuation is calculated by applying the average rate for the period under review to the period under review (the current period and the previous period).
These disclosures are not in accordance with International Financial Reporting Standards (IFRS). However, we believe that these disclosures are useful analytical information for investors
to understand the business conditions of the Group.
＜Forex rates＞
FYE2024
Average Forex rates
FYE2025
Full-term Assumption
（Apr.-Mar.）
(Announced on May 12, 2025)
141.00
162.00
114.37
90.00
21.20
FYE2026
（Reference） Currency sensitivity as rough indication
Unit：JPY Q1 1st Half 9M
Full-term
Q1 1st Half 9M
Full-term
Impact amount per 1 JPY
Unit：¥ bn. (Full-term basis)
Currency
（Apr.-Jun.）
（Apr.-Sep.）
（Apr.-Dec.）
（Apr.-Mar.）
（Apr.-Jun.）
（Apr.-Sep.）
（Apr.-Dec.）
（Apr.-Mar.）
Currency
Revenue
Core Operating Income
USD
139.63
142.61
143.78
145.31
158.24
152.45
153.03
152.57
USD
±2.3
±0.40
EUR
151.89
154.81
156.24
157.72
170.08
165.83
165.09
163.66
EUR
±2.0
±0.35
SGD
103.66
105.79
106.90
108.03
116.65
114.37
114.58
113.98
AUD
91.94
93.44
94.47
95.32
104.66
101.80
100.91
99.27
CNY
19.67
19.87
20.01
20.20
21.76
21.20
21.25
21.12
Presentation of overall business performance and segment performance
The amounts shown are after offsetting and elimination of inter-segment transactions and do not include consumption tax etc. Notes that from Q3 FYE2023, the reportable segment names simplified, but the scope of segment aggregation didn't change.
Contents
- Strategic overview
-
Q4 FYE2025 Business performance
-1. Q4 performance (Jan. - Mar.)
-2. Full-term performance
- FYE2026 Full-term Forecast Appendix
1. Strategic overview
1. Strategic overview
Key HighlightsContinue productivity improvements and price management Steady progress in electronics equipment construction
1. Strategic overview
NS Vision 2026 | Enabling the FutureOur Medium-term Management plan (MTP)
Group Philosophy
Proactive. Innovative. Collaborative. Making life better through gas technology. The Gas Professionals
Group Vision
We aim to create social value through innovative gas solutions that increase industrial productivity, enhance human well-being
and contribute to a more sustainable future.
Strategic overview
Delivering consecutive growth and improvement for Indicators that are already achieving targets. We will continue to focus on improving profitability in order to achieve EBITDA margin target in FYE 2026. Regarding Adjusted net D/E ratio, we will consider early redemption/repayment of Hybrid Bonds/Loans in the light of interest rate trends.
1,000
975
Revenue （¥ bn.） Core Operating Income （¥ bn.）
165.9
135
125
90.3
87.2
102.7
123.1
2020.3 2021.3 2022.3
2023.3 2024.3 2025.3
189.1
NS Vision 2026
NS Vision 2026
1,255.0 1,308.0
1,186.6
957.1
850.2 818.2
24%
EBITDA margin
NS Vision 2026 | 23.3% | |||||||
20.5% | 21.2% | 20.4% | 19.3% | 22.2% | ||||
2020.3 | 2021.3 | 2022.3 | 2023.3 | 2024.3 | 2025.3 | |||
2020.3 2021.3 2022.3 2023.3 2024.3 2025.3
NS Vision 2026 | ||||||||
1.45 | ||||||||
1.15 | ||||||||
0.94 | 0.81 | 0.74 | 0.71 | |||||
7 | ||||||||
2020.3 | 2021.3 | 2022.3 | 2023.3 | 2024.3 | 2025.3 | |||
Adjusted net D/E ratio* （times）
0.
ROCE after Tax
Medium-term Management plan
NS Vision 2026 planned figure
(Targets set in Apr 2022, with planned figures for FYE2026)
Exchange Assumption USD : ¥115
EUR : ¥125
Due to the uncertainty in the global economy, revenue and core
operating income are shown in range.
NS Vision 2026 | 6.7% | 7.2% | |||||
4.6% | 4.4% | 4.8% | 5.4% | ||||
2020.3 | 2021.3 | 2022.3 | 2023.3 | 2024.3 | 2025.3 | ||
6%
*Adjusted Net D/E Ratio: an indicator of safety (financial soundness) calculated in consideration of this part due to 50% of the amount raised by Hybrid Finance being permitted as "Equity" by rating agencies.
Strategic overview
Non-Financial KPI Progress :Steady progress, highly rated in environmental fieldMaking steady progress toward achieving our final year target, in line with our Sustainability Management strategy. In the environmental field, results were favorable in both CNP I & II and highly rated for its efforts and information disclosure.
＜Non-Financial KPI＞
NS Vision 2026
Segment
Non-Financial Programs
Initiative
Non-Financial KPI
Actual
Final-Year Targets
FYE2026
FYE2023
Released in Sep 2024
FYE2024
Environment
CNPⅠ
Carbon Neutral Program Ⅰ
Reduce the Group's GHG emissions
Reduction rate of GHG emissions*1
12.3%
15.3%
18%
CNPⅡ
Carbon Neutral Program Ⅱ
Reduce customer
GHG emissions through environmental product offerings and applications
Lower customer GHG emissions
7,308＞5,868
K t-CO2e
7,454＞5,667
K t-CO2e
Lower customer GHG emissions
through environmental product offerings and applications
＞NSHD Group GHG emissions
Social
SFP
Safety First Program
Reduction in lost time injury rate
Lost time injury rate*2
1.56
2.09
≤ 1.6
TDP
Talent Diversity Program
Utilization of diverse talent
Rate of female employees
19.9%
20.2%
≥ 22%
Rate of female management posts
14.5%
15.4%
≥ 18%
Governance
CPP
Compliance Penetration Program
Compliance education and enforcement
Rate of receiving compliance training
99.7%
99.4%*3
100%
Highly rated for
Selected as a CDP Climate Change "A list" company, the highest rating for the first time (2024)
*received an "A-" score
on Water Security
environmental disclosures
Selected as "Excellent TCFD Disclosure" and "Highly Improved Integrated Reports" by GPIF's Domestic Equity Investment Managers
≦1.6
Selected consecutively for inclusion in following ESG indices
≧22%
≧18%
ESG indices adopted by GPIF
Theme index (Social)
MSCI Japan Empowering Women (WIN) Select Index
MSCI
ESG Score: BBB (as of Mar. 2025)
In addition to the above, we are also involved in the Zero Waste Program (ZWP) for waste reduction, the Sustainable Water Program (SWP) for effective use of water resources, and the Quality Reliability Program (QRP) to improve quality and reliability. Together, we call them our "Eight Non-Financial Programs."
FTSE
ESG Score: 3.7 (as of Jun. 2024)
ESG indices adopted by GPIF Composite index
FTSE Blossom Japan Index
FTSE4Good Index Series
*1 Reduction targets for a fiscal year are set regarding the base year of FYE2019, with figures adjusted to reflect the acquisition of the European industrial gases business.
*2 This is an indicator that represents the frequency of occupational accidents. It is calculated as the number of employees injured in accidents that resulted in lost work time, divided by the total number of work hours, multiplied by one million hours.
*3 100% completion rate as of the end of June 2024
Strategic overview
Environment/Hydrogen-Related Business Opportunities:Continue investing in growth opportunities while strengthening risk assessment system
Reflecting on the impairment losses recorded for hydrogen production facilities, we built more stringent risk assessment system for large-scale projects that may heightened risks. We will capture growth opportunities while closely monitoring market conditions and respond flexibly and quickly to changes to minimize risks.
Strengthening Risk Assessment System, Responding Quickly and Flexibly to Changes
Enhanced risk assessment for relatively high-risk large projects
(Especially for large-scale capital investment for non-traditional applications, in markets or fields outside traditional industrial gas equipment.)
As the future becomes increasingly uncertain, we will assess project pipeline and secure a conservative position is taken.
Our Current Understanding on Environment Surrounding Environmental/Hydrogen Opportunities
In the United States, environmental-related businesses are facing
headwinds under the current administration
No major changes in EU energy and environmental policies
Demand for reducing GHG emissions continues worldwide, given the background of global warming.
Environmental/Hydrogen Projects Under Construction (examples)
Hydrogen supply for government projects
On-site supply of oxygen gas for DAC*1 business
Carbon dioxide production from biofuels
Carbon dioxide production using geothermal power
*1 Direct Air Capture: Recovering CO2 directly from the air
Strategic overview
Key CAPEX for our sustainable growth4%
1%
35%
26%
FYE2025
（as of the end of Q4）
Approx. ¥140.0bn.*Approx. 45%
Environmental & Hydrogen society contribution related
1%
3%
30%
Significant investment opportunities; diversified capital portfolio; aligned with our NS Vision 2026.
"Others" include projects which are not assignable because the facilities relate to a wide range of customers and no one specific market
(e.g.) ･ New or expanded production base for Bulk business
· Liquid CO2 and Dryice production related
"Environmental & Hydrogen society contribution related" includes projects that contribute to our group and the customers' efforts to become carbon neutrality. (e.g.) ・Modernizing our plants to state-of-the-art
equipment
・Hydrogen production related
(including HyCO Plant)
Steel & MetalsAutomobiles & Other transportationElectronicsFood & BeverageHealthcareChemicals & EnergyOthersNote that the above is an aggregation of investments that have been approved by the Board of Directors of each our group company, but have not yet been placed in service. The size of each project is over approx. ¥500mn., $4mn. or €4mn.
*Converted to JPY using the average exchange rate for the Q4 of the FYE2025, as shown in the Notes (Please see p.3).
2. Q4 FYE2025
Business performance
-1. Q4 performance (Jan. - Mar.)Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
Consolidated results
FYE2024 Q4
（Unit: ￥ bn.） (Jan. - Mar.)
Revenue 326.4
FYE2025 Q4
(Jan. - Mar.)
336.7
YoY
Difference ％ Change
+10.3 +3.2%
％ Change exc. FX
+3.5%
Revenue Analysis
Core operating income | 41.2 | 49.3 | +8.1 | +19.5% | +19.7% | ||||||||
Core OI margin | 12.7% | 14.7% | |||||||||||
Non-recurring profit and loss | 6.5 | -12.2 | -18.7 | ||||||||||
Operating income（IFRS） | 47.8 | 37.1 | -10.7 | -22.4% | |||||||||
OI margin 14.7%
EBITDA margin 21.7%
YoY
% Change
Revenue Growth +3.2%
FX -0.4%
Price +2.3%
Pass-through & Surcharge -0.2%
Volume / Mix -1.2%
Others +2.6%
Price Management status: Solid
Pass-thru ＆ Surcharge: Flat
Volume / Mix: Soft
Others: Contributions from business acquisitions in Europe and Australia, etc.
11.0%
23.4%
Finance costs | -5.3 | -4.7 | +0.6 | |||||
Income before income taxes | 42.4 | 32.3 | -10.1 | -23.8% | ||||
Income tax expenses | 9.1 | 10.1 | +1.0 | |||||
Net income | 33.3 | 22.2 | -11.1 | -33.3% | ||||
(Attribution of net income) Net income attributable to owners of the parent | 32.5 | 21.3 | -11.2 | -34.5% | ||||
NI margin | 10.0% | 6.3% | ||||||
Net income attributable to non-controlling interests | 0.7 | 0.9 | +0.2 |
2. Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
Japan
YoY | ||||||||
FYE2024 | FYE2025 | |||||||
（Unit: ￥ bn.） | Q4 | Q4 | Difference | % Change | ||||
Revenue | (Jan.- Mar.) 108.8 | (Jan.- Mar.) 114.2 | +5.4 | +5.0% | ||||
Segment income | 9.7 | 12.8 | +3.1 | +31.6% | ||||
Segment OI margin | 8.9% | 11.2% | ||||||
EBITDA margin | 13.1% | 15.4% | ||||||
% Change exc. FX |
+5.0% |
+31.6% |
Soft shipment volumes of primary products such as air separation gases and carbon dioxide
Shipment volume in electronic material gases was flat
Continued effective price management
Equipment and installation sales were favorable
YoY Factors for increase/decrease in this quarterly period and other comment
2. Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
United States
YoY | ||||||||
FYE2024 | FYE2025 | |||||||
（Unit: ￥ bn.） | Q4 | Q4 | Difference | % Change | ||||
Revenue | (Jan.- Mar.) 89.8 | (Jan.- Mar.) 90.0 | +0.2 | +0.2% | ||||
Segment income | 14.1 | 17.5 | +3.4 | +24.5% | ||||
Segment OI margin | 15.7% | 19.5% | ||||||
EBITDA margin | 28.1% | 32.0% | ||||||
% Change exc. FX |
-0.7% |
+22.7% |
Slightly lower shipment volumes of core products such as air separation gases
Soft volumes in non-air separation gases (such as electronics, acetylene, package, hardgoods)
Continued effective price management and productivity initiatives
Equipment and installation sales in both Industrial Gas and Electronics-related were soft
YoY Factors for increase/decrease in this quarterly period and other comment
2. Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
Europe
YoY | ||||||||
FYE2024 | FYE2025 | |||||||
（Unit: ￥ bn.） | Q4 | Q4 | Difference | % Change | ||||
Revenue | (Jan.- Mar.) 79.3 | (Jan.- Mar.) 79.7 | +0.4 | +0.5% | ||||
Segment income | 13.6 | 15.1 | +1.5 | +11.0% | ||||
Segment OI margin | 17.2% | 19.0% | ||||||
EBITDA margin | 30.5% | 31.6% | ||||||
% Change exc. FX |
+2.2% |
+13.0% |
Soft shipment volumes of core products such as air separation gases
Continued effective price management and productivity initiatives
Equipment and installation sales were firm
YoY Factors for increase/decrease in this quarterly period and other comment
2. Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
Asia & Oceania
YoY | ||||||||
FYE2024 | FYE2025 | |||||||
（Unit: ￥ bn.） | Q4 | Q4 | Difference | % Change | ||||
Revenue | (Jan.- Mar.) 40.8 | (Jan.- Mar.) 44.7 | +3.9 | +9.5% | ||||
Segment income | 3.2 | 2.1 | -1.1 | -33.4% | ||||
Segment OI margin | 8.0% | 4.9% | ||||||
EBITDA margin | 14.7% | 11.6% | ||||||
% Change exc. FX |
+10.8% |
-30.2% |
Shipment volumes of core products such as air separation gases increased
In LP gas, of which a large portion of sales is in the Australia region, sales volume increased firmly
In Electronics-related business, sales increased for both electronic material gases and equipment
Increasing labor & logistics costs and recording preacquisition costs for a previously announced acquisition in Australia
Softening sales prices in some regions due to helium supply surplus
YoY Factors for increase/decrease in this quarterly period and other comment
2. Q4 FYE2025 Business performance -1. Q4 performance (Jan. - Mar.)
Thermos
YoY | ||||||||
FYE2024 | FYE2025 | |||||||
（Unit: ￥ bn.） | Q4 | Q4 | Difference | % Change | ||||
Revenue | (Jan.- Mar.) 7.6 | (Jan.- Mar.) 8.0 | +0.4 | +6.0% | ||||
Segment income | 1.2 | 1.9 | +0.7 | +56.2% | ||||
Segment OI margin | 16.2% | 23.8% | ||||||
EBITDA margin | 21.6% | 29.1% | ||||||
% Change exc. FX |
+6.6% |
+51.0% |
Sales in Japan increased since sales from portable vacuum-insulated mugs have performed steadily
Sales in Korea increased since reliability issues on the third party e-commerce platforms are being resolved
YoY Factors for increase/decrease in this quarterly period and other comment
2. Q4 FYE2025
Business performance
-2. Full-term performance
2. Q4 FYE2025 Business performance -2. Full-term performance
Consolidated results
FYE2024
Full-term
YoY
％ Change exc. FX
FYE2025
Full-term
12.7%
23.3%
Difference ％ Change
（Unit: ￥ bn.） | |||||||||||||
Revenue | 1,255.0 | 1,308.0 | +53.0 | +4.2% | +1.4% | ||||||||
Core operating income | 165.9 | 189.1 | +23.2 | +13.9% | +10.3% | ||||||||
Core OI margin | 13.2% | 14.5% | |||||||||||
Non-recurring profit and loss | 6.0 | -23.2 | -29.2 | ||||||||||
Operating income（IFRS） | 172.0 | 165.9 | -6.1 | -3.6% | |||||||||
YoY
% Change
Revenue Growth +4.2%
FX +2.8%
Price +2.2%
Pass-through & Surcharge +0.0%
Volume / Mix -1.3%
Others +0.5%
Price Management status: Solid
Pass-thru ＆ Surcharge: Flat
Volume / Mix: Soft
Others: Deconsolidation in Japan, contributions from business acquisitions in Europe and Australia, etc.
Revenue Analysis
OI margin 13.7%
EBITDA margin 22.2%
Finance costs | -21.3 | -20.6 | +0.7 | |||||
Income before income taxes | 150.7 | 145.2 | -5.5 | -3.6% | ||||
Income tax expenses | 41.3 | 43.3 | +2.0 | |||||
Net income | 109.3 | 101.9 | -7.4 | -6.8% | ||||
(Attribution of net income) Net income attributable to owners of the parent | 105.9 | 98.7 | -7.2 | -6.7% | ||||
NI margin | 8.4% | 7.6% | ||||||
Net income attributable to non-controlling interests | 3.4 | 3.1 | -0.3 | |||||
Forex （Unit: JPY） USD | 145.31 | 152.57 | ||||||
(average rate during the period) EUR | 157.72 | 163.66 | ||||||
AUD | 95.32 | 99.27 |
2. Q4 FYE2025 Business performance -2. Full-term performance
Japan
By Industry
6%
4%
25%
Steel & Metals
Automobiles & Other
transportation Electronics
Food & Beverage Healthcare Chemicals & Energy
Others
31%
22%
2%
10%
Cumulative period basis
% Change exc. FX |
-1.1% |
+9.4% |
YoY | |||||||||||
（Unit: ￥ bn.） | FYE2024 Full-term | FYE2025 Full-term | Difference | % Change | |||||||
Revenue | 414.3 | 410.0 | -4.3 | -1.1% | |||||||
Segment income | 42.9 | 47.0 | +4.1 | +9.5% | |||||||
Segment OI margin | 10.4% | 11.5% | |||||||||
EBITDA margin | 14.8% | 16.0% | |||||||||
Topics | |||||||||||
| |||||||||||
By Product
Cumulative period basis
43%
Gases
Equipment and installation, other
57%
2. Q4 FYE2025 Business performance -2. Full-term performance
United States
By Industry
10%
Steel & Metals
40%
Automobiles & Other
transportation Electronics
Food & Beverage Healthcare Chemicals & Energy
Others
8%
14%
8%
14%
6%
Cumulative period basis
% Change exc. FX |
-1.2% |
+13.7% |
YoY | |||||||||||
（Unit: ￥ bn.） | FYE2024 Full-term | FYE2025 Full-term | Difference | % Change | |||||||
Revenue | 347.0 | 360.2 | +13.2 | +3.8% | |||||||
Segment income | 50.0 | 59.7 | +9.7 | +19.5% | |||||||
Segment OI margin | 14.4% | 16.6% | |||||||||
EBITDA margin | 26.9% | 28.8% | |||||||||
Topics | |||||||||||
| |||||||||||
By Product
Cumulative period basis
23%
Gases
Equipment and installation, other
77%
2. Q4 FYE2025 Business performance -2. Full-term performance
Europe
By Industry
16%
29%
Steel & Metals
Automobiles & Other
transportation Electronics
Food & Beverage Healthcare Chemicals & Energy
Others
3%
17%
21%
13%
1%
Cumulative period basis
% Change exc. FX |
+4.7% |
+12.9% |
YoY | |||||||||
FYE2024 | FYE2025 | ||||||||
（Unit: ￥ bn.） | Full-term | Full-term | Difference | % Change | |||||
Revenue | 302.4 | 328.6 | +26.2 | +8.6% | |||||
Segment income | 53.2 | 62.4 | +9.2 | +17.2% | |||||
Segment OI margin | 17.6% | 19.0% | |||||||
EBITDA margin 30.5% | 31.3% | ||||||||
By Product
11%
Gases
Equipment and installation, other
89%
October 2024: Signed an agreement to acquire 51% of the shares of Polaris, an Italian plant engineering company
December 2024: Signed an agreement for the 100% acquisition of Esteve Teijin Healthcare, which provides home medical care, respiratory services, and other home care businesses in Spain
Topics
Cumulative period basis
2. Q4 FYE2025 Business performance -2. Full-term performance
Asia & Oceania
By Industry
2% 4%
21%
Steel & Metals
Automobiles & Other
transportation
Electronics
27%
Food & Beverage Healthcare Chemicals & Energy
Others
41%
3% 2%
Cumulative period basis
% Change exc. FX |
+6.0% |
-9.2% |
YoY | |||||||||||
（Unit: ￥ bn.） | FYE2024 Full-term | FYE2025 Full-term | Difference | % Change | |||||||
Revenue | 160.3 | 176.5 | +16.2 | +10.1% | |||||||
Segment income | 15.9 | 15.0 | -0.9 | -5.6% | |||||||
Segment OI margin | 9.9% | 8.5% | |||||||||
EBITDA margin | 16.4% | 15.1% | |||||||||
Topics | |||||||||||
| |||||||||||
By Product
15%
Gases
Equipment and installation, other
85%
Cumulative period basis
Q4 FYE2025 Business performance -2. Full-term performance
Thermos
By Region
Cumulative period basis
FYE2024
（Unit: ￥ bn.） Full-term
Revenue 30.7
Segment income 5.5
Segment OI margin 18.1%
EBITDA margin 23.2%
YoY
FYE2025
Full-term
Difference
32.5 +1.8
6.2 +0.7
19.3%
24.5%
16%
Japan
Asia
84%
% Change
exc. FX
+5.7%
+8.4%
% Change
+5.9%
+12.9%
Topics
August-September 2024: Launched new products (including the launch of a new sub-brand "&ONDO" that develops apparel accessories)
February 2025: Released new products (Expanded lineup of vacuum-insulated tumblers and portable vacuum-insulated mugs, among other products)
March 2025: Began demonstration testing of a "Drink Container Reuse Service" with Alvark Tokyo
3. FYE2026 Full-term forecast
FYE2026 Full-term Forecast
Consolidated forecast
FYE2025 Full-term | FYE2026 Full-term forecast | YoY Difference ％ Change | |||
（Unit: ￥ bn.） Revenue | 1,308.0 | (Announced on May 12, 2025) 1,290.0 | -18.0 | -1.4% | |
Core operating income | 189.1 | 191.0 | +1.9 | +1.0% | |
Core OI margin | 14.5% | 14.8% | |||
Non-recurring profit and loss | -23.2 | 0.0 | +23.2 | ||
Operating income（IFRS） | 165.9 | 191.0 | +25.1 | +15.1% | |
OI margin | 12.7% | 14.8% | |||
EBITDA margin | 23.3% | 24.1% | |||
Finance costs | -20.6 | -22.5 | -1.9 | ||
Income before income taxes | 145.2 | 168.5 | +23.3 | +16.0% | |
Income tax expenses | 43.3 | 49.0 | +5.7 | ||
Net income | 101.9 | 119.5 | +17.6 | +17.2% | |
(Attribution of net income) Net income attributable to owners of the parent | 98.7 | 116.0 | +17.3 | +17.4% | |
NI margin | 7.6% | 9.0% | |||
Net income attributable to non-controlling interests | 3.1 | 3.5 | +0.4 | ||
Forex （Unit: JPY） | USD | 152.57 | 141.00 | ||
(average rate during the period) | EUR | 163.66 | 162.00 | ||
AUD | 99.27 | 90.00 | |||
FYE2026 | |
Full-term forecast | ％ Change |
(exc. FX) 1,328.8 | +1.6% |
197.2 | +4.3% |
14.8% | |
0.0 | |
197.2 | +18.9% |
14.8% | |
24.1% | |
-23.0 | |
174.2 | +20.0% |
50.5 | |
123.7 | +21.4% |
120.2 | +21.7% |
9.0% | |
3.5 | |
152.57 | |
163.66 | |
99.27 |
Q&A Session
President CEO
Toshihiko Hamada
Senior Executive Officer and CFO
Alan Draper
Executive Officer,
Group Corporate Planning Office
Koichiro Kubo
Senior Executive Officer, Group Sustainability Management Office,
and CSO
（Chief Sustainability Officer）
Takeshi Miki
General Manager,
Public & Investor relations, Group Finance & Accounting Office
Keita Kajiyama
General Manager, Accounting, Group Finance & Accounting Office
Takashi Yoshida
Appendix
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